U.S. ‘Attacking China’s Core Economic Interests,’ State Media Says
Chinese state news agency Xinhua: Washington “trying to invade China’s economic sovereignty and force China to damage its core interests”
The United States was “attacking China’s core economic interests,” Chinese state media said. By making a number of “arrogant demands,” Washington was “trying to invade China’s economic sovereignty and force China to damage its core interests,” Chinese state news agency Xinhua said Saturday. The comments came amid U.S. demands to restrict the role played by powerful Chinese state-owned enterprises (SOEs) that dominate all sectors of the country’s economy and receive favored treatment from the state.
The ongoing trade conflict between the two countries escalated further this month with President Donald Trump raising duties on $200 billion of Chinese goods. China responded with higher tariffs on $60 billion worth of U.S. goods.
“The trade war launched by the US is becoming more and more like real war,” the editorial in Global Times, the English edition of China’s official party mouthpiece People’s Daily, commented in response to the U.S. move. “At its core is the US resorts to unscrupulous means to suppress China while China is committed to crushing US arrogance.”
The Hong Kong-based South China Morning Post reported the remarks made by China’s state-run news agency:
The United States has called on China to curb the development of its state-owned enterprises (SOEs), a demand that China sees as an “invasion” on its economic sovereignty, Chinese state news agency Xinhua said on Saturday. (…)
“At the negotiating table, the US government presented a number of arrogant demands to China, including restricting the development of state-owned enterprises,” Xinhua said in a commentary.
SOEs in China enjoy not only explicit subsidies but also hidden benefits such as implicit government guarantees for debts and lower interest for bank loans, analysts and trade groups say.
“This shows that behind the United States’ trade war against China, it is trying to invade China’s economic sovereignty and force China to damage its core interests.”
The commentary added the United States has made unfounded accusations including that Beijing had forced technology transfers from foreign firms operating in China, saying this is all evidence that the U.S side is “forcing China to change its development path.”
Despite Beijing’s resistance, President Trump has refused to back down from his demands for cutting the trade deficit with China. Last year, the U.S. posted a $891 billion deficit with China—a record high. The administration is considering higher tariffs on additional Chinese goods. “I haven’t made that decision yet,” Trump said. “We have the right to do another 325 billion at 25 per cent. That is a tremendous amount of money that would come into our country.”
In the backdrop of ongoing trade dispute with the U.S., the World Bank has lowered China’s GDP forecast to 6.2 percent compared to last year’s 6.6 percent. The economic slowdown has been attributed to weaker exports. Trump’s tariffs could force the Chinese economy to cool down further.
While the political rhetoric coming from the Chinese state broadcasters may be mostly for domestic consumption, the remarks also show Beijing’s unease with U.S. demands to curb state-owned enterprises (SOEs). The U.S. regards SOEs as a major obstacle to a level playing field for doing business in China. These centrally-controlled corporations form the core of Chinese development model and are key to Communist party’s hold on the economy.
Trump: ‘China took advantage of US’
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“The trade war launched by the US is becoming more and more like real war,” the editorial in Global Times, the English edition of China’s official party mouthpiece People’s Daily, commented in response to the U.S. move. “At its core is the US resorts to unscrupulous means to suppress China while China is committed to crushing US arrogance.”
Now that takes Communist gall! Trump has started no trade war. He has finally engaged an ongoing war against America by China. China’s core interests are to the glory of the State via theft and strong arming foreign corporations into technology transfer and sharing.
Enough from the Chinese. We finally have a pro America President who has had enough. Years to late but still doable.
Dealing with the Chinese is a lot like dealing with Democrats. A never-ending siege of absurdity.
How DJT has the energy to keep at it is quite beyond me. I did two simultaneous majors at a real skull-crushing college but I wouldn’t even consider taking on a workload like his.
China’s core “economic interests” are tariffs, intellectual property theft, and labor and environmental arbitrage?
Apparently President Trump has found a soft spot. China has been attacking U.S. core economic interests for decades. Turnabout is fair play. Stay the course, President Trump.
Then stop cheating.
For those that don’t get it, and Trump does, China has been at war with us for at least two decades.
Thanks to Trump, we have simply decided to engage, engage the communists of China in their economic war and engage the communists of the USA in their attempt to destroy the republic.
Those that sit on the sidelines wringing their hands about being nice are on the other side.
wonder what China would do if we just mirrored their tariffs on us, even go as far as building plants to send cheap toxic junk back to them
I suspect that most of the upheaval that’s being experienced, and associated pain, is due to the fact that the President is addressing issues that have not received the attention that was their due. At times, I do wonder how much pain are we prepared to endure that these matters might be righted.
I would be happy if we just got them to stop stealing our intellectual property, but I guess that’s one of their core interests.
You can’t make an omlet without breaking a few eggs.
Best election ever.
Amen.
Absolutely.
And you cannot defeat an enemy without engaging them.
“At its core is the US resorts to unscrupulous means to suppress China while China is committed to crushing US arrogance.”
I miss the old Chinese communist stuff. There was always something in it about “running dogs”; for a while they were big on “paper tigers” too, but were evidently more pleased with “running dogs” as they persisted far longer with that. “US arrogance” is pretty feeble in comparison. You just can’t beat the classics.
Well, the old boy is out of his western attire, and back in his Dr. Evil suit, looking like the creepy totalitiarian murderer he really is.
And that creepy POS fascist traitor barack hussein obama (or whoever he really is) once advocated: We should be more like China.
I never understood how Democrats could be so forgiving to the Chinese about their constant steal of intellectual property, their poor treatment of nearby nations, their claims and take over of the South China Sea despite other nations having closer and more sound claims, etc. Even more confusing is the Left condemning Trump for defending traditional American values in this fight. It sort of makes you wonder just what the Left is truly wanting (other than power for the sake of power).
Because the Chinese were behind the Democrats. Connections between the Clintons (Charlie Trie?) and the Chinese. Obama the Manchurian Candidate.
How do the Dems get their endless energy to try to f up our country? It comes from somewhere, and it isn’t all George Soros.
“The enemy of my enemy is my friend.”
America is the enemy of the left. To them (and let’s be honest: inlude the GOPe), it only exists to be looted.
“I never understood…”
Many of us are old enough to remember when democrats were still Americans, patriots, that wanted everyone to achieve the American dream, and everyone to be free. Our arguments were small, over the size of social safety nets, should we help the people in country V fend off the commies, etc.
Post Vietnam, the democrat party changed, slowly then faster. They are now full blown communists, and thus admire the Chinese.
Probably 65% of the republican party is along for the ride, just trying to scoop up the dollars along the way.
I’m not sure it can be fixed short of civil war. Trump is trying.
They’re damned right, we’re going to damage their core interests of intellectual property theft and subversion.
I just wish we could keep Trump for more than another term. I fear the next president may not keep putting the screws to china like we need to. China should be seen as one giant monopoly business that also controls the government. When they steal your technology there is no recourse.